The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The market for Industrial Internet of Things (IIoT) is set for tremendous growth in 2015 as more and more businesses are realising its potential uses and impact it can have on the global economy. Industrial Internet of Things market is estimated to reach USD 330 billion by 2020 with trillions of dollars at stake on Industrial Internet of Things over the next decade. It is expected that, this market will add close to USD 10 trillion to major economies by 2025, which is huge and will help in maintaining more robust and healthy trade balance in the global economy.
One of the recent trends that have been observed in the industry is the lack of readiness of the companies and the acceptability of the technology. Close to only 10 percent of the companies have explicit strategic plans in place and are destined to make concrete progress in this direction.
Some of the countries that are expected to make a mark are Switzerland, the United States, the Nordic nations and the Netherlands as these countries have enhanced business and technological infrastructure that bolsters and propels the adoption rate for IIoT. On the contrary, countries like Russia, India, Brazil, Italy and Spain need to invest in service infrastructure to make it come together.